5 Keys To Help Your Gig Thrive

5 Keys To Help Your Gig Thrive

The gig economy is here to stay. One report suggests that it will change the traditional employer/employee roles. Employers are using technology and other improved work flows to change the way we work. This may include the process of right-sizing. However, workers are taking a stand and creating opportunities on their own terms. They want control over their schedules and work products. As is common with other businesses, freelancers should set-up appropriate business operations. Review the below time-tested, best-practices for freelancers and the like:

Plan. Ideas that disrupt industries have been making a lot of money. Brainstorming and “it would be nice to have this” acumens have expanded the creativity within the U. S. An asset to these great ideas is a business plan and operating agreement.

Saleable service/product. The retail and service industries have added jobs consistently according to the U. S. Bureau of Labor Statistics. Do your research on what customers need and want. If your business sells products, expand your online presence. If your business provides services, treat your customers well. Also, implement a marketing strategy as a major work flow.

Accounting/legal/regulatory. One popular business truism is to partner with (a)n accountant, lawyer and banker. Add to this team an insurance agent. It is best to be proactive versus reactive as you maintain your compliance work flows.

Manage expectations. Each industry has its ups and downs. Contracts may be signed or could fall through. Profits often vary from month to month. Understand that business is complex but often times more than not it is worth your efforts. Be a realistic and adaptable leader.

Happiness. For many, being involved in activities that they enjoy does not seem like work.  Let this be your case. Discovering your dream job or career is not always obvious. Try engaging in assignments such as volunteering, internships or the employment probation period to expose yourself to various work environments and your work-life happiness.

The economy appears to be welcoming “gig” entrepreneurs. With looming reports of the underfunding of the federal Old-Age, Survivors and Disability Insurance program (e.g., Social Security), working multiple jobs and freelancing is very common. Thus, use the above action-items to establish sound business operations. For more tips on freelancer readiness, read our blog 4 Moves Game-Changers Use In A Growing City. Best wishes!

No Comments

Post A Comment

Pierce, CPA & Associates LLC "Making Your Tax Experience Happy"